Analysts expect Malaysian February palm oil stocks to have fallen to 11-month lows

In Malaysia, a Bloomberg survey expects February palm oil reserves to have fallen to 11-month lows at 2.11 million metric tons, down 8.7% on the month, thanks to 3.5% less production as the El Niño-induced drought impacts oil palms. Some analysts believe the impacts could repeat those seen in the El Niño of 1997/98. Exports were also expected to have fallen by 14% to around 1.1 million tons. Official figures will be released by the Malaysian Palm Oil Board by March 10.